Started this blog so I can see how well/bad I am trading on Betfair. I will be using BetAngel to assist with my backing/laying and hopefully end up in profit. My starting bank is £150

Saturday, 2 May 2009

April Result: £506.73

Well as reported in previous post I've not had much chance to trade recently and so have concentrated almost fully on matched betting instead and have made a very good profit from this and because of the profit from this I've decided to rightly concentrate on this in my spare time. I've included a print screen on the month but it doesn't show the true story at all, all the loses on the Horses are due to matched betting and £50 of the Greyhound profit is from matched betting as well.Still even without trading much I've managed 95.36 profit from trading with most of this coming from F1 although the 2nd and 3rd race I did were very disappointing and not many chances for me, although it says I've only made £11.90 this month I'm actually much higher than that as I've been playing with the premiership winners market all season and when a club is unable to mathematically win the title they then settle all bets on that team and as such I am -£40.75 on the Prem winners market for the month but with the way it works that money goes onto the teams left and so that money will be coming back to me when teams can no longer win it, for instance after today Arsenal will probably be officially be out of the title race this weekend and as such I have layed them for £2043 and backed them for £1553 so when that happens again it will have me up by a big amount but overall because of the way they payout as I've mentioned above this is not the case as both Liverpool and Chelsea I have backed for more than what I've layed so then when they are ruled out it will show I've lost money from those 2 when this is not the case.Around £400 though from matched betting this month is a great result which I'm very happy with especially as my stakes are very small not only that but it is helping me keep my premium charge 'allowance' on Betfair as currently my Total Charges % is now at 36.77% which is perfect for me (before just trading it was around 6%) so as long as it stays around 20% I am more than happy as nothing will come off my allowance.Due to the matched betting this is also my best month profit wise so very happy with that, hopefully if I don't get gubbed I will be able to improve on that.